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  • 标题:CREDIT SCREENING AND THE LIMITS OF TRANSPARENCY AND COMMUNICATION IN ROMANIAN BANKING SYSTEM
  • 本地全文:下载
  • 作者:Zamfir Ana-Maria, Hornoiu Remus Ion
  • 期刊名称:Annals of the University of Oradea : Economic Science
  • 印刷版ISSN:1222-569X
  • 电子版ISSN:1582-5450
  • 出版年度:2008
  • 卷号:XVII
  • 期号:02
  • 页码:532-536
  • 出版社:University of Oradea
  • 摘要:

    In this paper, we examine the influence of contract costs on the pricing of bank loans. We find that the loan spread depends on a bank’s screening and monitoring incentives through transparency and communication, which varies across differentially regulated classes of banks. This leads to significant price disparities in the loan market. Better information about borrower’s type encourages tighter lending standards and competition in laxity can arise with multiple banks. Both better information ex ante and stronger legal protection ex post are shown to facilitate the entry of low-cost outside competitors into credit markets. When banks can strategically adjust the test characteristics by investing resources in the screening technology, we show that credit markets are not easily contestable.

  • 关键词:screening, borrower’s type, transparency, communication
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